Thailand-based fixed line telephony provider TT&T has decided to ay off 10 per cent of its workforce and relocate 700 staff members to its broadband arm Triple T Broadband, in order to cope with worsening economic conditions.

Thailand-based fixed line telephony provider TT&T has decided to lay off 10 per cent of its workforce and relocate 700 staff members to its broadband arm Triple T Broadband, in order to cope with worsening economic conditions. The move comes after TT&T’s net loss widened from 2.03 billion Thai baht in 2007 to 2.93 billion Thai baht in 2008. The company is expecting further losses in 2009, because of its high interest burden and depreciation costs, and is currently undergoing a 19.87 billion Thai baht debt rehabilitation plan.